2024-11-12
MicroStrategy® Incorporated (Nasdaq:
MSTR), the largest corporate holder of Bitcoin and the world’s first Bitcoin
Treasury Company, has announced updates on its Bitcoin acquisition strategy,
funding activities, and key performance metrics on November 11, 2024.
Between October 31, 2024, and November
10, 2024, MicroStrategy acquired approximately 27,200 bitcoins for $2.03
billion in cash, at an average price of $74,463 per bitcoin, including fees and
expenses.
As of November 10, 2024, the company
holds a total of 279,420 BTC. These holdings, acquired at an aggregate purchase
price of $11.9 billion, equate to an average cost of $42,692 per bitcoin.
MicroStrategy revealed that it raised
$2.03 billion through its at-the-market (ATM) sales of 7,854,647 shares.
The funds were generated under the
company’s August and October Sales Agreements with a consortium of financial
agents, including TD Securities, Barclays Capital, and others.
The August Sales Agreement, which had a
$2 billion cap, has been largely utilized. Future sales will proceed under the
October Sales Agreement, which allows for the issuance of up to $21 billion in
shares.
The company reported a Bitcoin Yield of
7.3% for the quarter-to-date (QTD) period from October 1 to November 10, 2024.
Year-to-date (YTD), MicroStrategy achieved a Bitcoin Yield of 26.4%, reflecting
the effectiveness of its Bitcoin acquisition strategy in driving shareholder
value.
MicroStrategy CEO Michael Saylor
emphasized that the company’s ongoing commitment to Bitcoin is aligned with its
long-term strategy to leverage the cryptocurrency as a primary treasury asset,
fostering shareholder value.
